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Novartis CFO Harry Kirsch. Photo: Ruben Sprich/AFP via Getty Images

The new FDA-approved drug from Amgen and Novartis that treats migraines, Aimovig, is the perfect example of why being the first in line for any new drug approval is so important.

Why it matters: Getting out of the gate first and pricing below independent cost-effectiveness estimates may give the pharmaceutical giants the upper hand even once the other migraine drugs hit the market.

How it happens:

  • Eli Lilly, Teva Pharmaceuticals and Alder Biopharmaceuticals are each coming out with their own versions of similar medications.
  • Amgen set the list price of Aimovig at $6,900 annually (an amount that doesn’t reflect discounts or rebates), which was about 30% less than what Wall Street expected, per Damian Garde at STAT.
  • “The first-mover advantage for (Amgen and Novartis) will allow for them to frame the payer discussions and gain initial traction in the marketplace,” Vamil Divan of Credit Suisse wrote to investors.
  • Amgen will “ultimately retain 35–40% market share long-term” because it was first, and could lead to $1.8 billion of peak annual sales, Geoffrey Porges of Leerink Partners said in an investor note.

Go deeper: Researchers continue seeking new clues on how heredity may play a role in migraines.

Go deeper

Rep. Rice demands Cuomo resign after 3rd woman accuses him of misconduct

New York Gov. Andrew Cuomo during a February news conference in New York City. Photo: Seth Wenig/POOL/AFP via Getty Images

Rep. Kathleen Rice (D-N.Y.) on Monday evening called for New York Gov. Andrew Cuomo (D) to resign, after a third woman accused him of inappropriate behavior.

Driving the news: Anna Ruch, a former member of the Obama administration and the 2020 Biden campaign, told the New York Times Monday that Cuomo asked to kiss her at a New York City wedding reception in September 2019.

Scoop: Inside the GOP's plan to retake the House

House Minority Leader Kevin McCarthy. Photo: Elijah Nouvelage/Bloomberg via Getty Images

House Republicans will reclaim their majority in 2022 by offering candidates who are women, minorities or veterans, a memo obtained by Axios says.

Why it matters: The document, drafted by a super PAC blessed by House Minority Leader Kevin McCarthy, names top Democrats to target — Jared Golden of Maine, Matt Cartwright of Pennsylvania and Ron Kind of Wisconsin — and the type of Republican candidates to beat them.

3 hours ago - Politics & Policy

Scoop: Trump talked out of early Ohio endorsement

Jane Timken at a 2017 Trump rally. Photo: Kyle Mazza/NurPhoto via Getty Images

Donald Trump had to be talked out of making an early endorsement in Ohio's 2022 U.S. Senate race, a sign of his eagerness to reengage politically, people familiar with the conversations tell Axios.

What we're hearing: The former president discussed endorsing former state GOP chair Jane Timken last week during a meeting at Mar-a-Lago with RNC Chairwoman Ronna McDaniel, but top advisers — including Donald Trump Jr. — urged him to wait.

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